SoFi Technologies, Inc. (SOFI) Income Statement Analysis

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Complete financial analysis of SoFi Technologies, Inc. (SOFI) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of SoFi Technologies, Inc., a leading company in the Financial – Credit Services industry within the Financial Services sector.

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SoFi Technologies, Inc. (SOFI)

Industry: Financial - Credit Services

Sector: Financial Services

Website: https://www.sofi.com

About SoFi Technologies, Inc.

SoFi Technologies, Inc. provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans. The company also provides cash management, investment, and technology services. In addition, it operates Galileo, a technology platform that offers services to financial and non-financial institutions; and Apex, a technology enabled platform that provides investment custody and clearing brokerage services, as well as Technisys, a cloud-based digital multi-product core banking platform. The company was founded in 2011 and is headquartered in San Francisco, California.

Metric	2023	2022	2021	2020	2019	2018	2017
Revenue	2.07B	1.52B	977.30M	565.53M	442.66M	269.40M	506.71M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	2.07B	1.52B	977.30M	565.53M	442.66M	269.40M	506.71M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	515.66M	405.26M	276.09M	201.20M	147.46M	99.32M	68.26M
General & Administrative	788.52M	623.58M	536.16M	352.82M	242.53M	182.47M	131.20M
Selling & Marketing	692.62M	593.65M	410.74M	268.53M	262.01M	210.30M	211.18M
SG&A	1.74B	1.51B	1.17B	715.16M	563.79M	433.87M	380.82M
Other Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	2.26B	1.91B	1.45B	916.36M	711.25M	533.19M	449.07M
Cost & Expenses	2.26B	1.91B	1.45B	916.36M	711.25M	533.19M	449.07M
Interest Income	2.05B	773.37M	355.02M	363.54M	608.19M	589.62M	0.00
Interest Expense	789.33M	189.28M	102.78M	185.61M	278.36M	330.55M	0.00
Depreciation & Amortization	201.42M	151.36M	101.57M	69.83M	15.96M	10.91M	8.15M
EBITDA	11.91M	-240.07M	-371.38M	-280.99M	-252.64M	-252.88M	65.78M
EBITDA Ratio	0.00%	1.39%	-38.54%	-45.74%	-50.52%	32.71%	-0.08%
Operating Income	-189.51M	-391.43M	-472.95M	-350.82M	-268.59M	-263.79M	57.63M
Operating Income Ratio	11.72%	-7.34%	-34.79%	0.00%	5.38%	12.87%	44.63%
Total Other Income/Expenses	-111.65M	72.71M	-8.23M	22.30M	28.99M	10.43M	-7.55M
Income Before Tax	-301.16M	-318.72M	-481.18M	-328.52M	-239.60M	-253.36M	376.15M
Income Before Tax Ratio	-14.28%	-20.26%	-48.86%	-58.09%	-54.13%	-94.05%	45.61%
Income Tax Expense	-416.00K	1.69M	2.76M	-104.47M	98.00K	-958.00K	368.00M
Net Income	-300.74M	-320.41M	-483.94M	-224.05M	-239.70M	-252.40M	50.08M
Net Income Ratio	-14.27%	-20.36%	-49.14%	-39.62%	-54.15%	-93.69%	6.07%
EPS	-0.36	-0.40	-1.00	-2.73	-2.27	-2.17	1.35
EPS Diluted	-0.36	-0.40	-1.00	-2.73	-2.27	-2.17	1.35
Weighted Avg Shares Out	945.02M	900.89M	526.73M	116.15M	100.63M	100.63M	100.63M
Weighted Avg Shares Out (Dil)	945.02M	900.89M	526.73M	116.15M	100.63M	100.63M	100.63M

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Despite notable short interest, SoFi Technologies continues to outperform expectations, effectively countering bearish sentiment with its stellar performance. SoFi Technologies shows strong growth potential with a 29% upside, supported by impressive Q3 performance and strategic innovation. The company benefits from...

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SoFi Technologies exceeded profit expectations in 3Q24, gaining 756,000 new members and raising its EBITDA forecast for the third time. The Financial Services segment grew its contribution profit by nearly 3,000% YoY and saw a 66% increase in net interest...